Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells 1,824 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 1,824 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $104.10, for a total transaction of $189,878.40. Following the completion of the transaction, the insider now owns 4,680 shares in the company, valued at $487,188. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Altair Engineering Trading Down 0.0 %

NASDAQ:ALTR traded down $0.02 on Thursday, reaching $103.97. 1,000,455 shares of the stock traded hands, compared to its average volume of 551,832. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 273.66, a price-to-earnings-growth ratio of 13.28 and a beta of 1.44. The company’s 50 day moving average is $95.16 and its 200-day moving average is $92.09. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering Inc. has a 1-year low of $67.64 and a 1-year high of $113.12.

Analysts Set New Price Targets

A number of research firms have recently commented on ALTR. Loop Capital reissued a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada increased their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $85.00 to $71.00 in a report on Friday, August 2nd. Finally, Rosenblatt Securities raised their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $100.71.

Institutional Trading of Altair Engineering

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. acquired a new stake in shares of Altair Engineering during the 1st quarter worth approximately $1,465,000. SG Americas Securities LLC acquired a new stake in shares of Altair Engineering during the 1st quarter worth approximately $177,000. Swiss National Bank grew its position in shares of Altair Engineering by 1.2% during the 1st quarter. Swiss National Bank now owns 107,800 shares of the software’s stock worth $9,287,000 after buying an additional 1,300 shares during the period. Sei Investments Co. grew its position in shares of Altair Engineering by 40.6% during the 1st quarter. Sei Investments Co. now owns 30,813 shares of the software’s stock worth $2,655,000 after buying an additional 8,905 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of Altair Engineering by 9.5% during the 1st quarter. QRG Capital Management Inc. now owns 20,532 shares of the software’s stock worth $1,769,000 after buying an additional 1,781 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.